JYOTI STRUCTURES - Turnaround ?
Jyoti Structures Limited (JSL) is an India-based engineering, procurement, and construction (EPC) company in the field of power transmission & distribution networks up to 765 Kilo Volts (kV) & 800 kV alternating current (AC) and high voltage direct current (HVDC) transmission lines and 765 kV Substations.
JSL offers a range of services including design & engineering, tower testing, manufacturing, construction & commissioning, sub-station design and engineering, and rural electrification.
JSL specializes in delivering turnkey projects involving designing, testing, manufacturing, erecting, and commissioning transmission lines, sub-stations, and power distribution projects in India and abroad.
JSL was one of the first 12 large accounts referred by the Reserve Bank of India under India’s new Insolvency and Bankruptcy Code 2016 (IBC). This was a significant event in the company’s history, marking a period of financial distress.
More recently, JSL has been working to improve its financial situation. In March 2024, the board of JSL approved the offer and issuance of fully paid-up equity shares of face value of ₹2 each to raise ₹175 crore through a rights issue. The rights issue price was set at ₹15 per equity share, including a premium of ₹13 per equity share. The rights issue period was scheduled to open on March 28, 2024, with a closing date on April 10, 2024.
The net proceeds from the issue were proposed to be utilized towards the payment of NCLT approved resolution plan dues. This move was seen as a part of the company’s efforts to resolve its financial issues and move towards a more stable financial future.
JSL offers a range of services including design & engineering, tower testing, manufacturing, construction & commissioning, sub-station design and engineering, and rural electrification.
JSL specializes in delivering turnkey projects involving designing, testing, manufacturing, erecting, and commissioning transmission lines, sub-stations, and power distribution projects in India and abroad.
JSL was one of the first 12 large accounts referred by the Reserve Bank of India under India’s new Insolvency and Bankruptcy Code 2016 (IBC). This was a significant event in the company’s history, marking a period of financial distress.
More recently, JSL has been working to improve its financial situation. In March 2024, the board of JSL approved the offer and issuance of fully paid-up equity shares of face value of ₹2 each to raise ₹175 crore through a rights issue. The rights issue price was set at ₹15 per equity share, including a premium of ₹13 per equity share. The rights issue period was scheduled to open on March 28, 2024, with a closing date on April 10, 2024.
The net proceeds from the issue were proposed to be utilized towards the payment of NCLT approved resolution plan dues. This move was seen as a part of the company’s efforts to resolve its financial issues and move towards a more stable financial future.
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For educational purposes only. Not a recommendation.
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For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
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